Evergrande health plans to change its name to Evergrande Auto and fully benchmarking Tesla

 Evergrande health plans to change its name to Evergrande Auto and fully benchmarking Tesla

On July 27, Evergrande health (00708, HK) announced that the companys board of directors proposed to change the name of the company to China Evergrande New Energy Automobile Group Co., Ltd. for short, Evergrande motor.

Evergrande Health Industry Group Co., Ltd. (Evergrande Health) is a comprehensive large-scale health industry group under Evergrande group, which takes the development and construction of health preservation Valley project as the carrier, takes the membership system as the service mode, and provides multi-level hierarchical medical treatment, full-age health care, high-precision health management and diversified pension services. It was listed on the main board of the Hong Kong Stock Exchange in May 2015.

The relevant person in charge of Evergrande told the daily economic news that the name change marks the companys main business into new energy vehicles, and further demonstrates Evergrandes determination to fully develop new energy vehicles.

According to the announcement, the group is making every effort to develop the business of new energy vehicles. It has built a whole industry chain of new energy vehicles covering batteries, powertrain, advanced vehicle manufacturing, automobile sales and smart charging. It has the worlds top core technology in all key links, and realizes the global integrated R & D mode.

In view of the fact that new energy vehicles have become the most important business of the group, the board of directors of Evergrande health believes that it is in the overall interests of the company and its shareholders to change its name to Evergrande motor.

According to the strategic objectives formulated by Xu Jiayin, chairman of the board of directors of Evergrande group, Evergrande automobile strives to become the largest and most powerful new energy vehicle group in the world within 3-5 years.

In addition to hengchi 1, the first mass production vehicle under hengchi brand, Hengda is developing 14 new models simultaneously, covering SUV, MPV, sedan and other products. Peng Jianjun, vice chairman of Evergrande health industry group, once said to the public that next, Evergrande new energy will gradually complete a series of work, such as small batch trial production of mule sample vehicle and soft model engineering sample vehicle, deepening design of intelligent cockpit, and the first winter test of engineering sample vehicle, so as to prepare for the full mass production of hengchi series products.

One belt, one road, China and Sweden, will build ten major vehicle production bases and build related core technology spare parts production bases. The first phase production capacity of each base is planned to be 100000 vehicles / year, the total planned production capacity in 2-3 years is 1 million vehicles / year, and the total planned capacity in 10-15 years is 5 million vehicles / year.

Evergrande said that the company aims to become the global leader of new energy vehicles, fully benchmarking Tesla in product research and development, and far surpassing Tesla in terms of production capacity.

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